4 Side Hustles to Get Your Entrepreneurship On
I still remember the day I fired my boss. It was glorious – and terrifying. When you choose to enter the startup arena, you’re telling the world that you can stand alone and take care of yourself. For all the frustration of corporate drone life, there is security and comfort. Entrepreneurship involves greater inherent risk.
When you’re working in a business, if you drop the ball, there’s an entire team standing by to help. Working for yourself, you have to learn to juggle really, really well.
When you’re just starting out, it’s a good idea to develop a few revenue streams. This way you can count on more than one source of income while taking huge risks.
I love being an entrepreneur. The scary journey is worth it. To help you succeed, I’ve compiled a list of ways you can generate some revenue in a pinch – trust me, you need backup plans. As Mr. Wonderful says on Shark Tank, “Poo Poo happens.” You’ve gotta be ready to roll with the punches.
1. Uber and Lyft
It’s hard to have a conversation about side-hustles without bringing up Uber and Lyft. The sharing and gig economies are incredible tools for motivated people to generate revenue. But, a word of caution: you need to carefully run the numbers before committing yourself and your vehicle to the Uber grind.
This Uber rates guide is an excellent resource for breaking down the numbers. You need to fully understand the risks you are taking on, in addition to how your compensation is calculated. This is not traditional entrepreneurship. You’re not building your own brand or participating in a calculated risk that provides potential for long-term financial wealth. An entrepreneur hustles to carve out their own piece of the pie. Ridesharing is sharing someone else’s pie within a strictly confined role with very limited upside.
But, ridesharing can still serve as a powerful short-term revenue tool.
2. Flip Garage Sale and Craigslist Finds
One man’s junk is another man’s treasure. There is a ton of truth to this saying. If you can score some solid deals at a garage sale or on craigslist, you can flip those items on eBay or Amazon. Estate sales are another excellent source of undervalue treasures.
You have the internet in your pocket. Use your smartphone to uncover the real value of an item. Pick it up for cheap and sell it online. I’ve double my money this way.
3. Cash in on Your Tech Smarts
The internet and computers can dramatically multiply the amount of money you make as an entrepreneur. Along the way, you’re going to pick up technical knowledge that you can share with others for a fee.
Chances are pretty good that you know more about technology than people older than you. Leverage that knowledge by offering to tutor them for a fee. You could even create a video series and charge for access to it.
4. House Sitting is an Office that Pays You Each Month
Build relationships in your community. This is great advice for any entrepreneur, but you can leverage those relationships into house sitting gigs. You can charge your neighbors a couple hundred dollars to watch their home while they’re out of town.
I like to have a dedicated space to work in. By house sitting, I’m able to leave my home during the day and work from wherever I’m needed. Instead of watching TV or raiding their fridge, I focus on getting work done on my laptop.
No matter where your journey takes you, these four strategies can help you generate extra income and better weather life’s financial storms.
